DWAC stock tumbles more than 10% after Trump social media merger approved by shareholders

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The price of shares in Digital World Acquisition Corp. fell by more than 10% on Friday after the shell company’s shareholders approved a merger with the social media company owned by Donald Trump.

DWAC, which opened the trading day at $44.20 per share, fell sharply after the vote Friday morning.

The newly merged company, Trump Media, could begin trading under the new ticker DJT next week.

Trump holds a majority of shares in the new company, which would be worth $3 billion or more given Friday’s opening price for DWAC.

This is breaking news. Check back for updates.

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